MML Investors Services LLC Has $1.25 Million Stock Holdings in Powell Industries, Inc. (NASDAQ:POWL)

MML Investors Services LLC cut its position in Powell Industries, Inc. (NASDAQ:POWL) by 23.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,623 shares of the industrial products company’s stock after selling 1,718 shares during the quarter. MML Investors Services LLC’s holdings in Powell Industries were worth $1,248,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Covestor Ltd grew its stake in shares of Powell Industries by 21.8% in the 3rd quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock valued at $51,000 after buying an additional 41 shares during the period. Chartwell Investment Partners LLC grew its stake in shares of Powell Industries by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock valued at $1,712,000 after buying an additional 60 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Powell Industries by 110.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after buying an additional 105 shares during the period. Diversified Trust Co lifted its position in Powell Industries by 7.1% in the 3rd quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock valued at $385,000 after acquiring an additional 115 shares in the last quarter. Finally, KBC Group NV lifted its position in Powell Industries by 64.3% in the 3rd quarter. KBC Group NV now owns 322 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 126 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Powell Industries Stock Down 3.8 %

Powell Industries stock opened at $231.97 on Thursday. Powell Industries, Inc. has a 52 week low of $76.29 and a 52 week high of $364.98. The company’s 50 day moving average price is $277.38 and its two-hundred day moving average price is $206.48. The stock has a market cap of $2.79 billion, a P/E ratio of 18.87, a P/E/G ratio of 1.31 and a beta of 0.85.

Powell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.265 per share. The ex-dividend date was Wednesday, November 20th. This represents a $1.06 annualized dividend and a dividend yield of 0.46%. Powell Industries’s dividend payout ratio is currently 8.62%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th. StockNews.com cut shares of Powell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Roth Mkm assumed coverage on shares of Powell Industries in a research report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price target on the stock.

Insiders Place Their Bets

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $347.74, for a total transaction of $1,738,700.00. Following the transaction, the insider now owns 677,265 shares of the company’s stock, valued at $235,512,131.10. This trade represents a 0.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 60,000 shares of company stock valued at $14,679,842 in the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Powell Industries Company Profile

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company’s principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.